Broaden Your Horizon....Real Estate Is More Than Selling Homes.....There Are Land Deals !!!

By
Managing Real Estate Broker with RE/MAX Executive Realty

Land is a topic that is rarely discussed anymore.  There is very little demand for land by developers right now.  The market continues to decline, foreclosures of existing homes are on the rise and banks are not financing newly proposed subdivisions.  The risk is too high.  Our local planning board has nothing new on its agenda for subdivision approval.

Yet, there are still many land transactions that could be consummated.  Some land deals are actually easier and much faster than going through subdivision approval with your local boards.  One of my best land transactions was selling a 23 acre parcel of land in Franklin MA to The Church of Jesus Christ of Latter Day Saints.  This parcel could easily have been an upscale subdivision with large custom homes.  It was in a prime residential area in Franklin surrounded by homes of that magnitude.  The approvals would have taken 2 years. 

There are no special permits needed for a church.  The transaction was done within a year, and it was a cash deal for $810,000 for that parcel.  There are many uses for large parcels other than subdivisions and now is a perfect time to capture a few land deals.  Not every concept requires a special permit and knowing your zoning by-laws will open up many more options for future land transactions.

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Topic:
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Location:
Massachusetts Norfolk County Franklin
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Active Rain Newbies
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Tags:
selling land in franklin ma 02038
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Rainer
257,137
Charles Edwards Bentonville
Coldwell Banker Harris McHaney & Faucette 479-253-3796 - Bentonville, AR
AR REALTOR, Bentonville Real Estate Agent and Broker

Barbara, Way to go. You are on top of your game. Thanks for sharing another great tip for a down market.

Oct 27, 2010 08:09 AM #1
Rainmaker
1,095,353
Ginny Gorman
Phillips Post Road Realty ~ 401-529-7849~ RI Waterfront Real Estate - North Kingstown, RI
Homes for Sale in North Kingstown RI and beyond

Barbara, you do know your land deals well...and it is something we all need to develop better skills in ...

Oct 27, 2010 08:15 AM #2
Rainmaker
2,036,992
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"New Franklin MA Homes"

Charles.....often, agents focus on one concept and there are so many other options available....land deals are very desirable....I'll take it any day!!!  there are professional medical buildings that are in great need in our area....specialty building....kidney dialysis for example.

Oct 27, 2010 08:16 AM #3
Rainmaker
2,036,992
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"New Franklin MA Homes"

Ginny.....real estate IS land....agents seem to focus more on the improvements thereon!!!!!

Oct 27, 2010 08:18 AM #4
Rainer
96,349
Linda Scofield
Toccoa, GA

Barbara - You are always thinking out of the box. This is an excellent example.

Oct 27, 2010 08:28 AM #5
Rainer
229,955
Karen Bernetti
Staging4Smooth Transitions Connecticut Home Staging - Southington, CT

Wow Barbara, I find it hard to believe that there's any land left on which to in Franklin.  I know many who would argue that enough is enough already. 

Oct 27, 2010 08:35 AM #6
Rainmaker
414,463
The Scott Loper Team Lansdale & Harleysville PA Homes
Keller Williams Real Estate - Montgomeryville - Lansdale, PA

Hi Barbara,

Our area is pretty well built up but the agents who deal in land do quite well.  Thanks for the reminder; it is not an area that we have gotten into but we should consider it.

~Lisa

Oct 27, 2010 08:39 AM #7
Rainmaker
2,036,992
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"New Franklin MA Homes"

Linda.....selling real estate is all about selling land.....

Oct 27, 2010 08:41 AM #8
Rainmaker
2,036,992
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"New Franklin MA Homes"

Karen....yes, Franklin has been built up over the past few years.....I participated heavily in that happening!!!  However, there are still parcels available and there are many other uses for those parcels....

Oct 27, 2010 08:42 AM #9
Rainmaker
2,036,992
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"New Franklin MA Homes"

Lisa....and when every parcel is gone, the existing homes will be raised and another building erected in its place....it may not be a home, it may be something else....the parcel I sold to the Church had a home on it and they removed it.....they actually offered it for free if someone wanted to take it away....

Oct 27, 2010 08:45 AM #10
Rainmaker
1,393,615
Andrew Mooers
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

The number of homes solds...up or down is tooted, trumpeted, annouced in the headlines. But if you factored in the land sales, folks building second homes, primary residences, you would find a lot of extra sales to figure in to the real estate market tally. Rural states have tons of land and there are boatloads of listings being sold, not reflected in the home, home, only home thinking.

Oct 27, 2010 08:45 AM #11
Rainmaker
2,036,992
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"New Franklin MA Homes"

Andy.....yes, there are many uses for land other than to build owner occupied homes.....there is a great need in the medical field, churches, schools, daycare centers, etc....and the zoning does not necessarily require a commercial area....there are concepts that can be erected ANYWHERE....

Oct 27, 2010 08:51 AM #12
Ambassador
1,321,484
Norma Toering
Charlemagne International Properties - Rancho Palos Verdes, CA
Palos Verdes & Beach Cities Homes in L.A. CA

Land is what real estate is all about--it is not easy to sell dirt right now, but it is a great time to invest in it--demand is down and so are prices.

Oct 27, 2010 09:13 AM #13
Rainmaker
2,036,992
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"New Franklin MA Homes"

Norma.....that's right....prices are down.....it's a great time for institutions to take advantage of that fact....

Oct 27, 2010 09:34 AM #14
Rainer
136,154
Brent & Deb Wells
RE/MAX Four Corners - Prosper, TX
Your Collin County Realtors

Barbara,

I love farm and ranch deals down here, the lead time on them is usually in terms of years though. Sounds like you had a great time with yours. Congrats!

-Brent

Oct 27, 2010 10:43 AM #15
Rainmaker
2,036,992
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"New Franklin MA Homes"

Brent....it's always nice to sell a parcel of land to an entity other than a developer.....I've sold many of those, but when you sell to a Church, school, medical facility,etc. it's different....

Oct 27, 2010 10:47 AM #16
Ambassador
451,220
Larry Lawfer
YourStories Realty Group - Westwood, MA
"I listen for a living." It's all about you.

There is opportunity in all types of land transactions and good for you for closing another big deal.  Does this mean there will be more people knocking on the doors soon?  Thanks for reminding us that there continues to be opportunity everywhere in our communities.

Oct 27, 2010 10:48 AM #17
Rainmaker
2,036,992
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"New Franklin MA Homes"

Larry.....there are land deals waiting for the right fit....that's all it takes is the right fit.

Oct 27, 2010 11:42 AM #18
Ambassador
1,287,140
Loreena Yeo
3:16 team REALTY ~ Locally-owned Frisco TX Real Estate Co. - Frisco, TX
Realtor® | Frisco TX Community Ambassador

Your ideas on how to approach land deals are great. That's why I have you to widen my horizon.

Oct 27, 2010 12:45 PM #19
Rainmaker
2,036,992
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"New Franklin MA Homes"

Loreena.....yes, you need to broaden your horizon.....land and new construction will place you at the top.....

Oct 27, 2010 12:47 PM #20
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Rainmaker
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Barbara Todaro

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